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Rokmaster Resources Corp (2)
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Rokmaster Resources summarizes fiscal 2021 work

2022-02-28 10:29 ET - News Release

Mr. John Mirko reports

ROKMASTER PROVIDES 2021 SUMMARY AND 2022 OUTLOOK

Rokmaster Resources Corp. has provided a summary of the past year of activities at its flagship high-grade orogenic gold and polymetallic Revel Ridge project in southeastern British Columbia, Canada.

2021 year in review

Rokmaster's president and chief executive officer, John Mirko, commented: "The past year has been transformative for Rokmaster both at the project and corporate levels. On the corporate side, Rokmaster raised over $14-million between year-end 2020 and February, 2021. These funds have been used to advance integrated exploration programs culminating in the drilling of over 30,000 metres of diamond drill core in 87 surface and underground diamond drill holes resulting in significant expansion of the gold equivalent mineral resource estimate (Rokmaster news release Dec. 1, 2021) and enhancement in process metallurgy (Rokmaster news release Jan. 27, 2022). Increased metal recoveries from the Main zone are a major milestone significantly derisking the Revel Ridge project. Rokmaster's advances in developing a realistic, repeatable, and economic metallurgical process for the deposit removes the single largest economic hurdle to its development and provides a strong opportunity to its shareholders."

Below is a summary of Rokmaster's achievements in 2020/2021 and goals for 2022:

Drilling and exploration programs

Rokmaster discovered and advanced several important new zones and expanded known zones through prospecting, geological mapping, sampling and drilling, as documented in the revised mineral resource estimate (Rokmaster news release, Dec. 1, 2021). To date, Rokmaster has drilled less than 25 per cent of the known strike length of the Main zone structure which hosts gold-rich polymetallic sulphides. The Main zone and related zones remain open in virtually all directions, and the consequent probability is high that drill testing of these targets will result in the expansion of existing mineralized zones. Deeper drilling within the Main zone has also indicated the potential for significant new mineralized zones containing coarse visible particulate free gold (see press release dated June 7, 2021). Rokmaster is targeting zones containing macroscale gold for further testing.

Metallurgical advancements

Rokmaster's metallurgical test work has markedly improved the process for precious metals recoveries from the polymetallic, gold-rich Revel Ridge mineralized zones through the design and management by Canenco Consulting Corp., and utilizing global leaders in this field; SGS Lakefield, Base Metallurgical Laboratories and Metso: Outotec Group. Advances in the process metallurgy of the Revel Ridge gold-rich polymetallic ores is related to:

  • Decreased gold concentrate mass pull to 27.8 per cent from historical average of 55.5 per cent for an autoclave feed. This decreases the feed tonnage that would enter the pressure oxidation and leach circuits, subsequently decreasing the plant footprint, decreases energy requirements for treatment and decreases overall associated relative capital;
  • Although the mass pull has decreased, Rokmaster has upgraded the gold concentrate from 17.9 grams per tonne gold to 28.3 g/t Au;
  • Fourteen large diameter HQ metallurgical drill holes have been completed and the initial assay results reported (Rokmaster news release, Jan. 27, 2002). That program objective is to clarify the variations in metallurgical characteristics, including the development of macroscale gold, within the broader Main mineralized zone.

Resource expansion

Positive results from the 2020 and 2021 underground and surface drill programs resulted in a significantly enhanced Revel Ridge resource: measured and indicated mineral resource, in all included zones, 1.36 million gold equivalent ounces contained within 6.73 million tonnes with an average grade of 6.27 g/t AuEq. Inferred mineral resource, in all included zones, 1.22 million AuEq ounces contained within six million tonnes at an average grade of 6.33 g/t AuEq (Rokmaster news release Dec. 1, 2021).

Corporate milestones

Over the past year, Rokmaster has raised over $14-million, has further strengthened its professional team by adding industry veterans Mark Kordysz as vice-president of business development and strategy, Craig Parry as a senior adviser, and Stacy Freudigmann, PEng, as senior metallurgical consultant.

Additionally, Rokmaster has initiated the spin out of its robust copper and zinc base metal projects, Big Copper and Duncan Lake Zinc, into a new company, 4Metals Exploration Ltd. Rokmaster is excited about this value-creation opportunity, and will continue to focus on exploring and developing its flagship Revel Ridge project.

2022 outlook and objectives

Rokmaster's 2022 program will focus on three principal areas: (i) gold resource expansion (ii) metallurgical studies, and (iii) enhanced and innovative corporate strategies.

Gold resource expansion -- diamond drilling

Rokmaster intends to further increase the gold equivalent resource in the immediate mine area through continued exploration and drilling. Continuing technical studies are better defining the orientation, extent and controls on higher-grade mineralized zones. All these targets are accessible with surface and underground drill holes of moderate length, 300 to 700 m. An initial program of 10,000 m of NQ drilling will test targets proximal to the gold mineralized zones defined by the 2021 MRE (see press release dated Dec. 1, 2021).

The surface expression of the Revel Ridge Main zone has been traced for approximately 2.5 km to the southeast of the Revel Ridge underground workings. In 1991, shallow surface drill holes successfully intersected gold-rich polymetallic mineralized zones on strike to the southeast. No follow up on these mineralized drill holes has ever been undertaken. These drill holes are within a few hundred metres of the 2021 MRE and represent high-priority drill targets. Rokmaster intends to dedicate approximately 5,000 m of NQ drilling along this target corridor.

i. Metallurgical programs

Revisions and updates in the Revel Ridge metallurgy will continue to guide the development of an advanced process flowsheet which will favourably impact project costs and economics. The recent metallurgical drill program (3,000 m of HQ core) tests the metallurgical characteristics of the Main zone mineralization over distances exceeding 700 m of strike and from 890 to 390 m in elevation (Rokmaster news release of Jan. 27, 2022). The results of these studies will further characterize the potential for positive metallurgical zonation.

ii. Enhanced and innovative corporate strategies

Revel Ridge is recognized as one of the premiere, gold dominant, undeveloped gold deposits in the western cordillera. Rokmaster's management is confident in its ability to meet all financing requirements for the project over the next several years. A broad range of financing opportunities exist within Rokmaster's financial toolbox. Management intends to pursue the opportunities which will prove most beneficial to its shareholders, and which will provide the means to drive this exceptional deposit forward.

Qualified person

The technical information in this news release has been prepared in accordance with Canadian regulatory requirements as set out in National Instrument 43-101 and reviewed and approved by Eric Titley, PGeo, who is independent of the company and who acts as Rokmaster's qualified person.

About Rokmaster Resources Corp.

Rokmaster controls a portfolio of three significant exploration and development projects all of which are in southern British Columbia in regions of excellent infrastructure. The three projects include: Revel Ridge. Rokmaster is currently conducting an underground drill program at the Revel Ridge project located in southeastern British Columbia 35 kilometres north of the city of Revelstoke. Revel Ridge is a high-grade gold and polymetallic orogenic sulphide deposit which has been the subject of a PEA technical report dated Dec. 8, 2020.

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